Paul Rawlings: CORPORATE RIGHTS AND RESPONSIBILITY

The U.S. Supreme Court has ruled corporations can give unlimited amounts of money to politicians and political causes—free speech.

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By Paul Rawlings

The Sun-Times - Heber Springs, AR

By Paul Rawlings

Posted Apr. 26, 2014 at 12:01 AM

By Paul Rawlings
Posted Apr. 26, 2014 at 12:01 AM

Heber Springs, Arkansas

Mitt Romney says corporations are people.

The U.S. Supreme Court has ruled corporations can give unlimited amounts of money to politicians and political causes—free speech. The Court is considering whether to allow corporations to deny employees certain health insurance benefits—freedom of religion.

Some believe the sole purpose for a corporations existence is to make it’s owners money.

Some believe corporations should act ethically, be held accountable and punished for their misconduct.

Please consider the following corporate activities:

TAXES

In 1999 Caterpillar paid Pricewaterhouse Coopers more than $55.0 million to devise and put into effect a corporate restructuring that shifted most of the profits from overseas parts sales to a Swiss subsidiary saving/deferring or avoiding $2.4 billion in U.S taxes over the last 15 years. Wall Street Journal April 2, 2014

Over two-thirds of corporations pay no federal corporate income tax. Headline January 10, 2012 Huffington Post

During the 1990’s auto makers issued recalls of 123 million vehicles which rose to 170 million in the 2000s. Wall Street Journal April 10-11, 2014

WALL STREET

J.P. Morgan Chase paid $13.0 billion in fines and settlement costs in October 2013 for making false and misleading statements about bond and mortgage securities which contributed to the Wall Street meltdown in 2007. Bloomberg News October 23, 2013

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The six largest banks paid $62.2 billion in fines for their 2007 wrongdoing which caused the second greatest economic collapse in U.S History. Six years later criminal charges, have NOT BEEN FILED AGAINST ONE TOP BANK OFFICIAL FOR THIS CORPORATE WRONGDOING. Numerous articles in many publications

BIG OIL

BP was fined $4.5 billion in November 2012 for the Deepwater Horizon disaster for violating well safety tests in which eleven workers were killed. Wall Street Journal October 19, 2013

Exxon paid $900 million to settle the Valdez oil spill of March 24, 1989. Wall Street Journal October 19, 2013

On March 29, 2013 Exxon-Mobile’s pipeline near Mayflower, Arkansas ruptured sending thousands of barrels of Canadian oil through a residential area causing 27 homeowners to evacuate their homes. Spill under investigation. Numerous articles in Arkansas Times—Arkansas Democrat-Gazette

TOBACCO INDUSTRY

In 1998 the five largest tobacco makers agreed to pay out $246 billion to the various states over the course of 25 years ending in 2025. WSJ October 19, 20

Alpha Natural Resources, the third largest U.S. coal company agreed to and paid a fine of $27.5 million in June 2013 for water pollution in Kentucky, Pennsylvania, Tennessee, Virginia and West Virginia. Alpha, and its subsidiaries, discharged heavy metals 6,289 times through 794 different discharge points. Associated Press March 14, 2014

AIRLINE INDUSTRY

FAA fined Southwest Airline in March 2009 $7.5 million for flying planes that were not safety checked. NBC News March 2, 2009

Should criminal charges be brought against the top Wall Street bank officials responsible for the 2007 massive securities fraud?

Should auto makers be allowed to sell cars with defective parts in order to make more money for GM’s shareholders?

Should corporations who make billions of dollars in profits be allowed to pay no federal income tax?

Should corporations who pollute your drinking water with toxic waste be held accountable and punished?

Should politicians accept contributions from corporations that do not treat their customers, their employees and the public in an honorable, credible ethical manner?

Would you vote for politicians who accept contributions from corporations who are guilty of misconduct?

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(Paul Rawlings of Heber Springs contributes his “progressive” viewpoint each week to the The Sun-Times. He writes a blog at www.pauls-musings.blogspot.com)